Egypt to review 15% duties on iron billet, rebar imports in April

Egypt’s Ministry of Trade and Industry will review import duties of 15 percent on iron billets and steel rebar in order to take a decision by April according to local press.

Industry sources state that the duty on iron billets would be reduced to 10 percent, from the previous 15 percent, and to 17 percent from the previous 21 percent on steel rebar, starting from April.

The upcoming changes in import duties come as part of the semi-annual review which is due in April.

Naeem Research sees that the continuation of the tariffs bodes well for integrated steel producers such as Ezz Steel and its subsidiary Al Ezz Dekheila Steel.